PROPERTY: The property fronts on the west side of Mount Zion Parkway approximately 300 ft south of the Mount Zion Road intersection. The subject 11.65 +/- acre site is composed of two adjacent tracts. Both tracts will sell together.
TRACT #1 - 3.0+/- Acres; Zoned GB – General Business
Net acreage outside the Transmission Line Easement – 2.62 +/- acres
TRACT #2 - 8.53+/- Acres; Zoned OI – Office/ Institutional
Net acreage outside the Transmission Line Easement – 3.63 +/- acres
TOPOGRAPHY: The topography is gentle and conducive to development.
PIPELINE EASEMENT: The property is encumbered along its Northwestern property line by the right-of-way easement for the 172 ft Transcontinental Gas Pipeline Corporation. The easement was granted in 1949 for the purpose of construction, operating, and maintaining 4 separate gas transmission lines. Specific questions should be directed to Transcontinental at: http://www.business.com/directory/energy_and_environment/natural_gas_utilities/transcontinental_gas_pipe_line_corporation/profile/
ADJACENT HOA: A reciprocal easement agreement was drawn up with the adjacent subdivision, which isn't a valid agreement due to homeowners association never being formed, it does spell out what could be possible (detention in pond in front of adjacent property, and sanitary sewer extended from property line). See Exhibit D under Documents.
FLOOD PLAIN: According to FEMA map 130041, Panel 55C dated November 6, 1991, the subject lies in Zone X, which is not designated flood hazard area.
OFFSITE DETENTION: A storm water drainage easement is in place to utilize an existing off premises lake located south of the property.
OFFSITE SANITARY SEWER LINE EASEMENT: A sanitary sewer line easement is in place and an existing manhole is located on the property.
NEIGHBORHOOD: Chili's, McDonalds, Waffle House, Steak & Shake, Sleep Inn and an Extended Stay Hotel, Target, Circuit City, Babies R Us, Home Depot, Barnes & Noble, Publix and a children’s hospital are all nearby. Clayton County is one of the most densely populated counties in Georgia and is home to 25 industrial parks, the GA International Convention & Trade Center and Clayton College. The Clayton County Performing Arts Center and Southwood Medical Center are in Jonesboro, just southeast of this site on Mt Zion Parkway.
Property Inspection: Contact Auctioneer for instructions.
Terms: 10% non-refundable earnest money payable to Auction Management Corp. Escrow Account, sign as-is contract, close by June 30, 2011.
Closing Attorney: Closing is to occur at the offices of Lane & Karlo, 1827 Powers Ferry Road, Bldg 5; Atlanta, GA 30339, phone 770-952-3388.